Rabbit Hash, KY
relocated from Tyrone, PA
When the paper mill was later sold and closed down, the facility was relocated to Kentucky and recommenced operations to produce a different coal-based product for a power plant then operated by Cinergy. In addition to working diligently to find a new location for the facility and negotiating agreements with the new host site, Palmer was able to bring a new investor to the project and structure the resulting transaction.
At its new location, the facility generated in excess of $30 million of federal tax credits per year.
LOCATION: Rabbit Hash, KY relocated from Tyrone, PA
TYPE: Waste Coal
PALMER’S ROLE: Sponsor, Co-Investor in Credit Monetization Program